Colder weather, lower renewable drive spot prices higher
PRAGUE (Reuters) - Central European spot power prices rose on Friday as cooler weather is expected to drive up demand and on forecasts for lower wind power output, traders said.
On regional exchanges, Czech and Slovak electricity for Saturday rose more than 15 percent to 30.17 euros ($41.02) per megawatt-hour (MWh), while Hungarian day ahead jumped 23 percent to 32.30 euros.
In the over-the-counter market, spot prices rose to 30 euros in the Czech Republic and to 47 euros in Hungary.
Data from Thomson Reuters Point Carbon showed forecasts for colder weather and higher consumption.
Wind power generation in Germany on Sunday is forecast to fall to 4.9 GW from 5.6 GW, while solar power output is set to be weaker than last weekend, with cloudier weather, Point Carbon analysts wrote in a report.
Further along the curve, the Czech and Hungarian front year contracts shed 15 cents to 36.45 euros and 43.40 euros, respectively. The Slovak Cal '14 traded flat at 37 euros.
Around the region, the benchmark German Cal '14 contract shed 17 cents to 37.40 euros in afternoon trade on Germany's EEX exchange.
German and Austrian power plant capacity is likely to rise by 6.0 percent by November 8 and by 7.7 percent by November 29, data on the EEX website showed.
Day ahead on Poland's POLPX from rose to 130.69 zlotys ($42.48) from 120.08 zlotys.
Brent crude oil fell below $108 a barrel on Friday as traders shrugged off concerns over a lingering oil crisis in Libya and cited technical pressures.
European Union carbon futures fell nearly 2.5 percent to 4.70 euros per metric ton in afternoon trade.
($1 = 0.7356 euros)
($1 = 3.0768 Polish zlotys)
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